Interim Report Published by Nexo, the World’s Largest Crypto Lender
Nexo, the world’s most advanced instant crypto loan provider, is sharing the interim report detailing the dividend distribution of $912,071.00 to eligible NEXO Token Holders that occurred on December 15, 2018.
In just six months, Nexo’s crypto lending model has generated a net profit of $3,040,239. The interim dividend was paid in NEXO Tokens based on the NEXO/USD exchange rate of $0.104256. With just over 309 million eligible tokens on the platform at the ex-dividend date, US$0.002945 per token were distributed.
Nexo offers the world’s largest and most trusted instant crypto lending service. A truly borderless enterprise, Nexo offers clients 40+ fiat currencies to choose from in over 200 jurisdictions.
This, in turn, means that the annualized dividend yield of NEXO is 4.80% which beats all dividend stocks in Warren Buffett’s portfolio: Apple at 1.4%, JPMorgan at 3%, Wells Fargo at 3.3% and Goldman Sachs at 1.6%. No withholding taxes are imposed on the interim dividend.
The creation of token holder value and pioneering financial innovation for the blockchain space are both encoded in Nexo’s DNA. In an environment where less than 13 percent of ICOs have delivered a live product, Nexo has raised funds in a compliant manner, developed a usable crypto-lending wallet and formed a profitable business model in less than six months.
Antoni Trenchev, Managing Partner and Kalin Metodiev, Head of Corporate Finance, in Seoul during the NEXO Token Distribution event in front of 900+ South Korean NEXO Token Holders.
“We have had people borrow for all sorts of purposes from buying a car and going on a vacation to purchasing a new home, which are pretty significant events in people’s lives. Now we are taking the next logical step of sharing of profits with our community of investors. At Nexo we believe that this concept will be the next huge trend across a quickly tokenizing world,” said Nexo Co-Founder Antoni Trenchev.
A fixed 30% of net profit is paid out as dividend to the eligible NEXO Token holders in a given dividend period (more frequently than once a year), which not only offers investors with long-term capital gain opportunities from the potential upside of the NEXO Token, but also provides them with an instrument with a regular and growing passive income.
Disclosure: This article includes a client of an Espacio portfolio company